Gandaki Bikas Bank calls for auction of 3.52 lakh unit unsold right shares from Chaitra 1; Minimum bid price set at Rs 100 per share

Gandaki Bikas Bank has published a notice regarding auction of its unsold right shares. The bank has called for an auction for the sale of 1,30,716.90 unit and 2,22,184.60 unit right shares from promoters group and public shareholders group respectively. The auction will start from Chaitra 1, 2074 and last till Chaitra 8, 2074. Bidders must quote a minimum price of Rs 100 per unit which means the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of shares and the shares applied should be a multiple of 10. Prabhu Capital Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids within banking hours till Chaitra 8, 2074 at Prabhu Capital Limited, Kathmandu or also in the designated branches of Gandaki Bikas Bank Limited. The investors applying for the auction can deposit the bid amount in the account number 13511600631816000004 in the name of Prabhu Capital Limited at Prabhu Bank Limited or can apply by issuing good for payment cheque. Only the existing promoters are eligible to apply for the 1,30,716.90 unit right shares of promoters group. The bank’s current paid up capital is Rs 1.84 arba and after issuing the right shares its paid up capital will reach Rs 2.30 arba.  As per NRB’s directive for national-level development banks, GDBL should increase its paid-up capital to Rs 2.50 arba. Thus it should further hike its capital by Rs 20 crore (around 8.69%). Notice